Allocative efficienty exist when firms produce the output most preferred by consumers
a. True
b. False
A
Economics
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In the Keynesian model deviations of output from potential are caused by:
A. fluctuations in aggregate spending. B. fluctuations in average labor productivity. C. changing asset prices. D. technological change.
Economics
What is the effect on the aggregate demand curve from an increase in the price level? In particular, does the aggregate demand curve shift leftward or rightward?
What will be an ideal response?
Economics
The Buda Agri Corporation is the sole employer in rural Hungary. In the labor market, Buda Agri is a
A) monopolistic competitor. B) perfect competitor. C) monopsony. D) monopoly.
Economics
The basic idea behind the 1996 and 1997 welfare changes was to make welfare an entitlement
Indicate whether the statement is true or false
Economics